India extends $41 BILLION loan guarantee scheme to airlines & small businesses amid pandemic ...News

Russia Today - Economy
India extends $41 BILLION loan guarantee scheme to airlines & small businesses amid pandemic
source : Russia Today ( News ) () 35
India’s Finance Ministry has announced the expansion of an emergency credit program to cover airlines and hospitals, to protect them from the impact of the Covid-19 crisis. According to the ministry, the loans, which were previously intended for specific sectors such as small borrowers, can be claimed until September 30 or until total guarantees worth three trillion rupees ($41 billion) are offered. Sunil Mehta, chief executive of the Indian Banks’ Association, said at a briefing that around 2.5 trillion rupees ($34 billion) have so far been disbursed. “With the second wave and incremental stress on debt servicing of the borrowers, rel

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